Anyone who does not know the history of economics cannot think competently about the future of economics. This book offers an introduction to economic history for those looking for more than just dry theory. The author takes you on a journey through the economy, from its beginnings in the Stone Age to the digitalization of modern times. In addition to the nature and fundamental principles of economics, the book also introduces great thinkers such as Aquinas, Keynes, and Erhard. While ancient philosophers like Plato and Aristotle focused mainly on the ethical dimension of economics, the first modern economist and moral philosopher, Adam Smith, for example, pondered how nations could achieve prosperity. Today, however--in an era where capitalism is increasingly under scrutiny--the question is how prosperity can reach everyone, especially in times of digitalization. Therefore, the book not only addresses economic concepts of the past and present but also offers an intriguing look into the future. Issues of social justice are discussed alongside topics such as digitalization, globalization, and ecology.

The second edition has been updated to include a chapter on "Economics in Uncertain Times," which deals, among other things, with the economic consequences of the COVID-19 pandemic and the war in Ukraine.